So, our target now is getting to the circuit courts, and appealing higher, because I don't think you can get a fair break in district court from what I witnessed.  

We have been discussing adding my brother in-law onto the property purchased with my dad and are trying to come up with a fair value for him to buy into the property so then we can move it under the LLC.The property we are looking to add in my brother in law was purchased at $137,500 and when including 25% down, closing costs and fix-up costs my dad and I are all into it for $42,612.  

Buy very cheap homes in my area, avoiding the worst areas, which I am fairly sure I don't want to venture into....still fix them up nice, not super nice ....and get pretty decent ROI (I would think) but then I would also think I would have to deal with more turnover or tenant instability....I am really thinking in this direction, as I could buy with cash and avoid financing. 

I have 2 closings coming up in a couple of weeks and I'm going to send our 5,000 we buy houses post cards and do a heavy facebook campaign. if you guys are on facebook please look for hudson valley investors and also fair deal home buyer llcthanks,'   Bill Smith

Then later you will be putting in quite a bit of cash if it needs all the things you say.The only benefit to holding would be the monthly equity buildup thru principal reduction on your mortgage, which is a slow, (and some depreciation) but fairly sure way to amass equity,  a free house in 15 to 30 years is a great thing., but 30 years is a long time...however you have to be prepared for the possibility that the rents could go down and not cover the mortgage (not too likely in my opinion) or the vacancy factor could go up and you again may not be able to cover the mortgage.Lastly if we have another crash in values and it goes down under what you owe then your $35k equity could disappear.These scenarios could cause you to  end up giving it back to the bank and ruin you credit thru no fault of your own.

Without firing up Excel that's probably about a $60k NOI.A fair cap rate for the type of shopping center that you describe might be 10-12%.

I've made my fair share of costly mistakes, which fortunately has led to my success and perfection of a system that work for me (and others).If you do your due diligence, and select a good market or two, then there won't be any "cons". 

@Shanna Vataj I'm fairly new to real estate.

I'm fairly new as well but if you ever have anything that I may help you with, just reach out

You also need to have thick skin and be prepared for the fact that some people you would expect to send you referrals, just wont.So pick at least 100 people in your sphere.